Prime Minister Narendra Modi inaugurates 750-MW solar power project in Madhya Pradesh's Rewa

Delhi/Rewa: Prime Minister Narendra Modi on Friday dedicated to the nation a 750-MW solar project – said to be Asias biggest -- at Rewa in Madhya Pradesh through videoconference from Delhi.

The Rs 4,000-crore project has three units of 250 MW each at a solar park spread over 1,500 hectares developed by Rewa Ultra Mega Solar Limited (RUMSL), a joint venture company of Madhya Pradesh UrjaVikas Nigam Limited and Solar Energy Corporation of India (SECI), a central PSU.

Union Power Minister RK Singh and Madhya Pradesh Chief Minister Shivraj Singh Chouhan were among the dignitaries present on the occasion.

Twenty-four per cent of the solar power produced by the project will be used in the Delhi Metro and the remaining 76 per cent by discoms of Madhya Pradesh.

The Centre gave Rs 138 crore to RUMSL for the project for which Mahindra Renewables, ACME Solar Holdings, and Solengeri Power were shortlisted through reverse bidding for the three units at tariffs of Rs 2.979, Rs 2.970 and Rs 2.974 for the first year.

This is the lowest tariff ever discovered through a bidding process for solar projects in India.

The project is a step towards India's commitment to set up 175GW solar power capacity by 2022.